Mahindra Finance has reported a 9% decrease in standalone profit for the March quarter in India, with profits reaching Rs 563 crore. The decline was attributed to increased provisions. Despite this, net interest income saw a 9% increase to Rs 2,156 crore, primarily due to growth in the loan book. However, a narrower interest margin and higher credit costs impacted the overall bottom line. The lender has assured stakeholders that it maintains a comfortable capital adequacy ratio and liquidity buffer to weather the current economic challenges.
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Mahindra Finance’s Q4 profit dips 9% to Rs 563 crore; net interest income up 9% amidst increased provisions
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